Advantages Of Coffee Machine Financing

Advantages Of Coffee Machine Financing

Estimated Reading Time: 15 minutes

Coffee machine financing and leasing terms provide very flexible options that will not strain the business cash flow, as most payback terms range from 24 to 72 months. There are also buyback options, as well as the continue to extend equipment to your loan at any time.

Astrum Capital works with multiple lending sources to find the best solution for your specific financial circumstances and will get you manageable low monthly payments to operate your business smoothly.

While there are several equipment financing companies available, proper planning is required to determine the right use of commercial coffee equipment finance.

1. Identifying Your Actual Requirements

The first step is to figure out exactly what you need to buy. Will you be looking at brand new, refurbished, or used equipment?

Will you be using some of your capital or do you require the entire amount to be covered by finance?

Business owners must consider what equipment they will require to carry out their daily operations. You should keep in mind that more specialized equipment, which you will only need on a regular basis, may be better sourced from an equipment rental company.

However, if a piece of equipment is required for the majority of your business services, it is more cost effective to own or lease it long term.

2. Various Types of Equipment Financing Company

The specific deal will be determined by your specific equipment financing requirements. Most lenders provide more flexible financing terms. Longer loan terms and lower monthly payments with final financing cost are examples of this.

Obviously, if you are looking for larger pieces of coffee equipment, such as commercial roasters and espresso machines, the equipment finance terms will be more flexible. Given the importance of cash flow, you may want to consider keeping your monthly repayments as low as possible.

You will be able to keep your operating costs low and manageable as a result of this.

You’ll also be able to budget more accurately because you’ll know exactly how much you’ll be paying each month.

3. Get Pre-Approval

Obtaining pre-approval for your equipment financing is one of the most prudent options. This allows you to shop with confidence, making an offer as soon as you see what you need at the right price, without having to worry about whether you can actually finance the purchase.

Pre-approval financing can be arranged to a specific level to allow you to plan your purchases and get the best deals. You can also shop around for refurbished or used equipment to get the best equipment for the best price.

4. Choosing a Coffee Equipment Financing Company

While the idea of collecting many bids for your coffee machine finance may appear challenging, it is feasible to make the process easier and smoother by working with a trustworthy broker. A broker who specializes in coffee equipment finance will have a network of providers and access to the finest offers.

The broker may even have a special relationship with certain of the lenders, allowing access to exclusive deals. This allows you to compare the rates and terms offered without much trouble.

How Coffee Machine Financing Helps Your Business Grow

1. Generate Revenue

Coffee machine financing allows you to buy new equipment now and pay for it over time in small, manageable payments. Before your first payment is due, you can begin earning money with your new equipment.

2. Low Monthly Payments

Astrum Capital provides monthly payments ranging from 12 to 60 months, ensuring the best fit for your coffee shop and your roasting business.

3. Provide Tax Benefits

Section 179 allows businesses to deduct the entire purchase price of the financed equipment. Most businesses can deduct the entire cost of their equipment. You can consult with your CPA before applying for any type of equipment financing.

4. Preserves Your Line of Credit

Coffee machine financing allows you to maintain potential lines of credit for emergency fund, and use our financing to help you improve your business credentials with any lender.

5. Improve Your Competitive Edge

Any Equipment Financing can help you gain a competitive advantage by adding production, driving sales revenue, and profit growth. All of these can assist you in transforming your company into a more valuable and trusted brand, resulting in more clients, sales, and profits.

Few More Advantages of Coffee Equipment Financing

1. Multiple Equipment

For a simple low monthly payment, you can purchase a coffee roaster, espresso machine, and other small equipment all at once to increase the efficiency and speed of your business.

2. Increase Market Share

By financing a commercial coffee machine, you can stay ahead of your competitors and gain market share in the other avenues of coffee industry. Financing a coffee machine also prevents cash flow reductions caused by large up-front equipment costs.

3. Planned Budgeting

Financing also allows you to balance revenue and shop expenses. The benefit of this feature is that you can now save and plan for other expenses such as expansions in different coffee promotions, new expansions, or new hires.

4. Simple Equipment Acquisition

Get a new commercial coffee machine faster than ever before with Astrum Capital’s expedited program ensures that your equipment is delivered to your business on time. When your term is up, you can keep your machine.

How To Qualify For Coffee Equipment Financing

Many small businesses can qualify for equipment financing. Keep in mind that you’ll need to have a decent credit score (600+). However, even if your credit score is low, you may still be approved. Paying higher rate of interest and a collateral can help you make up for a low credit score.

When applying for coffee equipment financing, the lender will typically:

Request you to fill out an application.
Request for tax returns and bank statements to show stability.
Make a request for a background and/or credit check.
Provide a price quote for the equipment you want to buy.
Finally, you’ll need to find a lender who will finance the type of coffee machine you want to purchase.

Finding Coffee Machine Financing Lender

The first step is to determine exactly what you want to buy, as lenders typically only offer financing for specific products. Astrum Capital, for example, provides funding for coffee equipment such as commercial espresso machines and roasters.

Other factors to consider include your expenditure (can you afford a down payment?) and either you want to lease or borrow. You must also consider your credit record, as well as your previous financial and future working capital.

Certain lenders will only work with businesses that generate a certain income and have been in operation for a certain measure of years.

Conclusion

When your fund is tight, whether you choose an equipment loan or a lease, coffee machine financing can help you get the funding you need to keep running your business smoothly.

By visiting the Astrum Capital website, you can apply for your own business financing loan or learn about many other loan financing options.